Freedom Investment Management Inc. Lowers Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Freedom Investment Management Inc. lessened its holdings in LyondellBasell Industries (NYSE:LYB) by 4.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,023 shares of the specialty chemicals company’s stock after selling 413 shares during the period. Freedom Investment Management Inc.’s holdings in LyondellBasell Industries were worth $865,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Pacer Advisors Inc. raised its stake in LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after purchasing an additional 579,300 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of LyondellBasell Industries by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock valued at $769,500,000 after buying an additional 362,671 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in shares of LyondellBasell Industries by 80.7% in the second quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock worth $74,523,000 after buying an additional 347,877 shares in the last quarter. WINTON GROUP Ltd purchased a new position in LyondellBasell Industries during the second quarter valued at $17,683,000. Finally, Dimensional Fund Advisors LP lifted its stake in LyondellBasell Industries by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after purchasing an additional 170,464 shares in the last quarter. 71.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Mizuho dropped their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. decreased their target price on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada dropped their price target on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, Piper Sandler reduced their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Trading Up 1.1 %

Shares of NYSE LYB opened at $83.04 on Friday. LyondellBasell Industries has a fifty-two week low of $81.45 and a fifty-two week high of $107.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The company has a market cap of $26.97 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 2.35 and a beta of 1.08. The business’s 50 day moving average price is $89.09 and its 200-day moving average price is $93.84.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. On average, sell-side analysts expect that LyondellBasell Industries will post 7.09 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be given a $1.34 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 6.45%. LyondellBasell Industries’s dividend payout ratio (DPR) is 81.58%.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.